Braskem S.A. BAK was a big mover last session, as the company saw its shares rise over 11% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, which remained volatile and traded within the range of $28.06–$29.50 in the past one-month time frame, witnessed a sharp increase yesterday.
The shares rose after reports surfaced that LyondellBasell Industries had approached Braskem about a potential takeover.
Braskem has seen no positive estimate revisions versus one negative estimate revision over the past one month.The Zacks Consensus Estimate for the current quarter has also revised downward in the past 30 days, suggesting there may be trouble down the road. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.
Braskem currently has a Zacks Rank #1 (Strong Buy) while its Earnings ESP is 0.00%.
Braskem S.A. Price and Consensus
Another stock in the Oil and Gas – Integrated – International industry is Statoil ASA STO which also carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Is BAK going up? Or down? Predict to see what others think: Up or Down
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